Gold price on course for steepest weekly fall in six months
Spot gold was down 0.8 per cent at $3,213.56 an ounce in early trading, taking its losses so far this week to 3.3 per cent on course for its worst weekly performance since November 2024.
It has gained 22 per cent in the year to date as investors sought shelter from market turmoil caused by uncertainty over President Trump's on-off import tariffs. It passed the $3,300 mark for the first time four weeks ago.
The price of bitcoin, meanwhile, was heading in the opposite direction to breach $100,000, having rebounded by more
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Embarrassing real reason for MSNBC's impending 'MS NOW' rebrand revealed
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Reuters
23 minutes ago
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Dayforce to go private in $12.3 billion Thoma Bravo acquisition
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Trump administration not eyeing equity in companies that are increasing US investment, WSJ reports
Aug 21 (Reuters) - The Trump administration is considering taking equity stakes in companies receiving funds from the 2022 CHIPS Act but has no plans to seek shares in bigger semiconductor firms that are increasing their U.S. investments, the Wall Street Journal reported on Thursday, citing a government official. The development follows comments made by U.S. Commerce Secretary Howard Lutnick, who on Tuesday said the government is continuing to work on the possibility of taking a 10% stake in troubled chipmaker Intel (INTC.O), opens new tab. However, the administration does not intend to take equity stakes in companies like TSMC ( opens new tab, which are ramping up investment, the official told the Journal. Businesses not increasing their commitments may need to offer equity to the government in exchange for subsidies. "The Commerce Department is not looking to take equity from TSMC and Micron," the official told WSJ. TSMC executives have already had discussions about giving back their subsidies if the administration asks to become a shareholder, according to the report. The White House and TSMC did not immediately respond to Reuters' requests for comment. TSMC, which counts Nvidia (NVDA.O), opens new tab and Apple (AAPL.O), opens new tab as key clients, announced plans for a $100 billion investment in the United States during an event with President Donald Trump at the White House in March. This investment is in addition to $65 billion committed for three manufacturing facilities in the state of Arizona. The U.S. Commerce Department, which oversees the $52.7 billion CHIPS Act, formally known as the CHIPS and Science Act, late last year finalized subsidies of $6.6 billion for TSMC to produce semiconductors in the United States. Besides Intel, Micron (MU.O), opens new tab, TSMC and Samsung ( opens new tab were among the biggest recipients of CHIPS Act funding. In the past, the U.S. government has taken stakes in companies during periods of economic uncertainty to provide financial support and restore confidence.
